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7 Pages

Upstream mega-projects: implications for crude trade and refining

Upstream mega-projects: implications for crude trade and refining

Report summary

By 2025 Brazil's pre-salt and Norway's Johan Sverdrup will add 3.8 million b/d of supply from the Atlantic basin. Most of this crude will be of similar quality: relatively heavy and sweet, averaging 28° API. This will increase supply available to more complex refineries, and cause more to be routed to Asia.

What's included?

This report includes 2 file(s)

  • Upstream mega-projects: implications for crude trade and refining PDF - 1.70 MB 7 Pages, 0 Tables, 7 Figures
  • Upstream mega-projects implications for crude trade and refining.xls XLS - 147.00 KB


This Refining and Oil Products Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an alternative point of view to help inform your decision making.

With over 20 years of experience in the refining industry, Wood Mackenzie is a trusted global leader with a reputation for producing consistently reliable information.

Our senior analysts are based in the markets they analyse. They use detailed research data to forecast, benchmark and recognise trends that will help both new and existing participants identify opportunities and avoid risks.

  • Executive summary
  • Mega-projects
    • Pre-salt Brazil
    • Petrobras crisis risks production growth
  • Johan Sverdrup
  • Mega-project crude quality is strikingly similar
  • Volumes will trade at a discount to Brent
  • Markets for pre-salt Brazil
    • Pre-salt pushes supply beyond refining capacity
    • Refinery cancellations mean more exports
    • Pre-salt is Asia-bound
  • Markets for Johan Sverdrup
    • Europe's refining industry is shrinking
    • Some volumes will go beyond northern Europe

In this report there are 7 tables or charts, including:

  • Executive summary
    • Expected trade flows of mega-project crude by 2025
  • Mega-projects
  • Johan Sverdrup
    • Brazil liquids production
    • North Sea liquids production
  • Mega-project crude quality is strikingly similar
    • Mega-project oil reserves (billions of barrels) by crude quality
    • Atlantic basin* heavy crude production (<29° API)
    • Incremental supply from Atlantic basin by API band
  • Volumes will trade at a discount to Brent
  • Markets for pre-salt Brazil
    • Brazilian production versus refining throughput
  • Markets for Johan Sverdrup
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